banking & finance

Ban on use of “Big Four-only” clauses

With planned changes to EU regulations governing the audit market, contractual clauses limiting the selection of audit firms will have to be removed from credit agreements.

Banks lose privileges

Until now, it has been distinctly easier for banks in Poland to secure and later enforce their receivables than for other creditors. Will a new amendment to the Banking Law change this?

A troublesome privilege

Parliamentarians seek to strip banks of the opportunity to use bank writs of execution while awarding a comparable privilege to credit unions.

Not all bank guarantees are created equal

Although the bank guarantee is a commonly used form for securing claims, it is one of the most controversial institutions in Polish law. In a dispute, it is essential to analyse thoroughly the documents establishing the bank guarantee.

Escrow accounts a year after entry into force of the Developers Act

Residential escrow accounts have been in use in Poland for over a year, but banks so far do not offer much choice to real estate developers. Access to such accounts may also be limited for smaller developers.

The future of securitisation

The recommendations published recently by the Financial Stability Board may result in more rigorous regulation of securitisation transactions.